Abstract:

Horticulture is one of the agricultural sub-sector has an important role in
Indonesian economy. Vegetables has great contribution to GDP from horticultural
commodity groups. In 2011, vegetables had the highest growth percentage
compared to the other three groups of commodities, which reached 6.06 percent.
In 2007-2011, vegetables also had the highest growth percentage of 6.72 percent.
One of vegetable commodities that have the potential to be developed is bell
peppers. The demand for bell peppers, both in the local market as well as export
markets, is higher than the supply. It is a chance to most entrepreneur to start and
grown the cultivation of bell peppers. But, the high of investment can be
obstruction to run the cultivation of bell peppers. Therefore the feasibility analysis
of hydroponic bell peppers is needed to know how much the business can give
profit for the entrepreneurs.
Firm which has many experiences in the cultivation of bell peppers is
Saung Mirwan. The company has been running the bell peppers cultivation since
the 1990’s. Therefore, a production farm of Saung Mirwan can be referenced for
the entrepreneurs who want to entry the business of bell peppers cultivation. This
study is analyzed the cultivation of bell peppers with hydroponic and drip
irrigation systems. The purpose of this study was (1) analyzed the non-financial
feasibility of the hydroponic bell peppers in Saung Mirwan, (2) analyzed the
financial feasibility of hydroponic bell peppers in Saung Mirwan, (3) analyzed
the sensitivity of hydroponic bell peppers in Saung Mirwan with changes the
decreased in the prices output, declined in the number of bell peppers production,
and increased in the price of nutrients. The research was conducted in the
production farm of Saung Mirwan from October 2010 until February 2011. This
study uses qualitative and quantitative analysis as methods to explain the analysis
of non-financial and financial aspects in the business of hydroponic bell peppers.
The result of the feasibility analysis indicate that the market, technical,
management, social, economic and cultural, and environmental aspect of
hydroponic cultivation of bell peppers is feasible. The financial aspects analysis
stated the hydroponic bell peppers cultivation is feasible with the value of Rp 9.9
billion of NPV, IRR of 34.18 percent, Net B/C of 3.76, and payback period for 5
years. Switching value analysis results show that the business unfeasible if the
bell peppers prices is decreased more than 49.65 percent, the number of bell
peppers production decline more than 49.65 percent, and the price of nutrients
increased more than 427.90 percent. This shows that the feasibility of hydroponic
bell peppers is more sensitive to decreasing price of output and the declining of
production rather than increasing in the price of nutrition.